Tuesday, April 21, 2009

Notable News of the Week

  1. Monday April 20, 2009: 67% of all companies reporting in the 1st 2 weeks of this quarter reported positive earnings. A far change from that of the last few quarters.
  2. Tuesday April 21, 2009: Bank losses have not hit bottom yet! As banks post quarterly reports Bank of New York posts a -51% loss, Comerica posts a -92% loss and Huntington Bank went from a $ .35 gain to a $6.79 loss for the quarter.
  3. Wednesday April 22, 2009: McDonald's profit rises on breakfast and drinks, Wells Fargo profit climb 53%, Morgan Stanley wider than expected loss. Stock's earnings are mixed but better than a few months ago.
  4. Wednesday April 22, 2009: Advertising has changed drastically, over the past few years local and national newspapers, magazines, radio, television and cable stations have had a hard time making enough money from advertising to be profitable and many have had to file chapter 11 bankruptcy. Now Yahoo and other internet advertising firms, who took the business away from the others, are also having earnings problems with their advertising.

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